CCS SS SCS HCS HB 1182 -- TAX CREDITS

This bill allows Agricultural Product Utilization Contributor Tax
Credits and New Generation Cooperative Incentive Tax Credits to
be taken against estimated quarterly taxes and be carried back
three tax years.  These tax credits are added to the restriction
that certain tax credits taken against taxes due on insurance
premiums will not reduce moneys transferred to the County Stock
Insurance Fund.  The fund is to be included in the calculation of
total state revenue pursuant to Article X, Section 18, of the
Missouri Constitution.

The bill decreases from 100 to 60 the number of employees
required to be employed by an employee-qualified capital project
for investors to receive a New Generation Cooperative Incentive
Tax Credit.

Transfers of certain property by Bi-State Metropolitan District
and the Kansas City Area Transportation District Authority are
exempt from real and personal property taxes and state and local
sales and use taxes.

The bill expands the definition of "eligible industry" as it
relates to the Business Use Incentives for Large-Scale
Development (BUILD) Program to include a tax preparation company
headquarters in Kansas City as long as the company creates 100
new jobs for eligible employees and invests at least $15 million
in an economic development project.  The cap for the tax credit
is increased from $11 million to $11,950,000 for the benefit of
the tax preparation company headquartered in Kansas City.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:14 am